PwC report calls NFTs 'the future of digital assets in sports'
Nonfungible tokens, or NFTs, and digital assets are one of the ten major trends within the sports industry, according to the consultancy Price Waterhouse Coopers', or PwC, Sports Outlook 2022 report for North America. From altering sports technology infrastructure to driving fan engagement, the report lists three main use cases for NFTs and their likelihood to shape the future of sports.
The first use case is collectible NFTs — assets used to sell collectible, authenticated and limited edition digital content. This refers to traditional memorabilia like trading cards of players or tickets stubs of historic matches that can be digitized, minted and traded on the blockchain. The report added that these collectibles could eventually be displayable and shared across metaverses.
The "best known" example of a collectible NFT collection is the NBA Top Shot from Dapper Labs. The marketplace tokenizes highlights or the"best" plays from NBA history, and has recently ranked in second place, after the Axie Infinity game, for the most NFT transactions within the blockchain gaming industry with $827 million dollars in 2021. Another popular example is retired NFL quarterback Tom Brady's NFT collectible marketplace Autograph, which recently raised $170 million in Series B funding.
Secondly, season ticket member, or STM, NFTs could be considered another big use case. Providing season ticket members with verified tokenized passes would elevate the experience of an already loyal fan. STMs used to having access to additional special content and stadium experiences could also receive special edition collectible NFTs for the games they attend. And sponsors could benefit too if the teams they sponsor enable them to ensure those customers who
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